RadNet, Inc. (NASDAQ:RDNT - Get Free Report) has received an average rating of "Strong Buy" from the six analysts that are covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a buy recommendation and three have given a strong buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $69.60.
A number of research analysts recently commented on the company. Truist Financial dropped their price target on RadNet from $88.00 to $74.00 and set a "buy" rating for the company in a research note on Friday, April 11th. B. Riley assumed coverage on RadNet in a research note on Friday. They set a "buy" rating and a $69.00 target price for the company. Barclays lowered their price objective on RadNet from $74.00 to $60.00 and set an "overweight" rating for the company in a research note on Monday, March 24th. Raymond James raised RadNet from an "outperform" rating to a "strong-buy" rating and lowered their price objective for the company from $85.00 to $65.00 in a research note on Wednesday, March 5th. Finally, Wall Street Zen downgraded shares of RadNet from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd.
Get Our Latest Analysis on RDNT
Insider Buying and Selling at RadNet
In other news, EVP Alma Gregory Sorensen sold 55,000 shares of the stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $56.48, for a total value of $3,106,400.00. Following the completion of the sale, the executive vice president now owns 1,160,509 shares in the company, valued at $65,545,548.32. This represents a 4.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Norman R. Hames sold 5,536 shares of the firm's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $60.00, for a total transaction of $332,160.00. Following the sale, the chief operating officer now owns 249,183 shares of the company's stock, valued at $14,950,980. This trade represents a 2.17% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 73,447 shares of company stock valued at $4,113,270. Corporate insiders own 5.60% of the company's stock.
Institutional Trading of RadNet
A number of large investors have recently added to or reduced their stakes in the stock. American Century Companies Inc. increased its stake in shares of RadNet by 507.9% in the first quarter. American Century Companies Inc. now owns 1,272,928 shares of the medical research company's stock worth $63,290,000 after purchasing an additional 1,063,516 shares in the last quarter. Norges Bank purchased a new position in RadNet during the fourth quarter valued at approximately $56,381,000. T. Rowe Price Investment Management Inc. grew its stake in RadNet by 81.4% during the first quarter. T. Rowe Price Investment Management Inc. now owns 1,657,613 shares of the medical research company's stock valued at $82,417,000 after acquiring an additional 743,922 shares in the last quarter. Alyeska Investment Group L.P. grew its stake in RadNet by 141.7% during the first quarter. Alyeska Investment Group L.P. now owns 1,214,882 shares of the medical research company's stock valued at $60,404,000 after acquiring an additional 712,270 shares in the last quarter. Finally, Nuveen LLC purchased a new position in RadNet during the first quarter valued at approximately $27,422,000. Hedge funds and other institutional investors own 77.90% of the company's stock.
RadNet Price Performance
NASDAQ RDNT opened at $55.41 on Friday. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.89. RadNet has a 12-month low of $45.00 and a 12-month high of $93.65. The company has a market capitalization of $4.16 billion, a PE ratio of -791.46 and a beta of 1.43. The firm's 50 day moving average is $54.99 and its 200-day moving average is $60.42.
About RadNet
(
Get Free ReportRadNet, Inc, together with its subsidiaries, provides outpatient diagnostic imaging services in the United States. The company operates in two segments: Imaging Centers and Artificial Intelligence. Its services include magnetic resonance imaging, computed tomography, positron emission tomography, nuclear medicine, mammography, ultrasound, diagnostic radiology, fluoroscopy, and other related procedures, as well as multi-modality imaging services.
Further Reading
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